Brookfield India Real Estate Trust REIT were trading at Rs 262.65 at 10:27 IST on the BSE, at a discount of 4.49% over the initial public offer price of Rs 275 per unit.
The stock was listed at Rs 275.05, at a premium of 0.02% to the initial public offer (IPO) price. So far the stock hit a high of Rs 280.05 and low of Rs 258.35. On the BSE, 2.44 lakh units were traded on the counter so far.
The IPO of Brookfield India Real Estate Trust was subscribed 7.94 times. The institutional investors category, comprising foreign institutional investors, domestic financial institutions, mutual funds, was subscribed 4.78 times. The other investors category, which includes corporates, individuals investors and others, was subscribed 11.74 times.
Updated Feb 16, 2021 | 13:24 IST
Brookfield REIT debuts on the exchanges, sees soft opening. Brookfield is India s third publicly listed REIT and only institutionally managed public commercial real estate vehicle. (Representational Image) | Photo Credit: Getty Images
Key Highlights
REIT instruments gain popularity in India
Brookfield India Real Estate Trust (“Brookfield REIT”) is India’s only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management (“BAM”), one of the world’s largest alternative asset managers has campus-format office parks strategically located in Mumbai, Noida, Gurugram, and Kolkata.
Its portfolio comprises 14msf, which include 10.3msf of completed area, 0.1msf of under construction, and 3.7msf future development projects.
Brookfield India Real Estate Trust, the third such investment vehicle to publicly trade in the South Asian nation, fell on debut as investors fretted about the COVID-19 pandemicâs impact on the realty sector and the asset managerâs growth prospects.
Units of the real estate investment trust backed by Canadaâs Brookfield Asset Management Inc. fell 2.2 per cent from its issue price to 268.93 rupees in Mumbai on Tuesday, compared with a 0.1 per cent dip in the benchmark stock index. The last two REITs Embassy Office Parks and Mindspace Business Parks had gained 5 per cent or more on their first day of trading.